Unsatisfying up-day
I would call today an
unsatisfying up-day. The day started out with a big move up on a
gap-up at the opening. They worked their way higher to new 2005 highs by
mid-day, and then consolidated for a couple hours. When those bullish-looking
consolidations failed to materialize in an extension of the rally , they began
to roll over in mid-afternoon and the indices got pounded and gave back the
majority of their earlier gains.
Read More